Precious metal memes
I'm having a debate with The Daily Bell over their assertion that "physical gold and its delivery will cost you up toward US$2,000" in the comments to this article of theirs. Readers of this blog I think will find it interesting, as well as the diversion into questions about the Germany repatriation and central bank transparency. I also questioned their view that the London Fix was not a free market in the comments to this article.
The thing about The Daily Bell is that they track and look behind memes. Their reaction to my questioning made me ask this question in my latest comment:
You, DB, should know more about memes and their propagation than anyone else. Your willingness to look behind dominant social themes and ask who benefits is one reason why I was first attracted to, and continue to read, this site. I would suggest that you consider the possibility that memes also exist in the precious metals world. Many, like the Willie $2,000 story, don't have any malicious creator and come about from misunderstandings of how the market operates or exaggeration of a fact, mostly with the intent to just sell newsletters or product.
However, I would also suggest you consider that some may originate from the monetary or power elite you watch. The objective? To divert attention away from how the gold market really works and avoid probing questions by creating dumbed down comic book-style stories, that has the bonus of making gold investors look like nutters to the mainstream and which dissuade the mainstream from thinking about investing in gold.
I'm interested in your views on the above idea as well as from any The Daily Bell readers as to whether you think they have a blind spot in respect of precious metal memes.
The thing about The Daily Bell is that they track and look behind memes. Their reaction to my questioning made me ask this question in my latest comment:
You, DB, should know more about memes and their propagation than anyone else. Your willingness to look behind dominant social themes and ask who benefits is one reason why I was first attracted to, and continue to read, this site. I would suggest that you consider the possibility that memes also exist in the precious metals world. Many, like the Willie $2,000 story, don't have any malicious creator and come about from misunderstandings of how the market operates or exaggeration of a fact, mostly with the intent to just sell newsletters or product.
However, I would also suggest you consider that some may originate from the monetary or power elite you watch. The objective? To divert attention away from how the gold market really works and avoid probing questions by creating dumbed down comic book-style stories, that has the bonus of making gold investors look like nutters to the mainstream and which dissuade the mainstream from thinking about investing in gold.
I'm interested in your views on the above idea as well as from any The Daily Bell readers as to whether you think they have a blind spot in respect of precious metal memes.
Comments
Post a Comment